RAWALPINDI: According to sources Chief of Army Staff Gen. Qamar Javed Bajwa has reached out to the US Deputy Secretary of State Wendy Sherman by means of phone early this week appealing the US Govt to assist Pakistan secure the IMF tranche of $1.2billion as the country due to lack of foreign reserves could default.

The sources have further revealed that COAS had requested the White House and the Treasury Department to urge IMF to immediately release the said tranche. It is pertinent to mention here that after reaching a staff-level agreement, Pakistan is expected to receive the amount in the month of August, 2022.

According to Bloomberg, on 13th of July, 2022 IMF’s Executive Board and Pakistan had reached a staff-level agreement reviving the EFF program worth US $ 6 Billion. Official announcement will be made soon apropos the agreement that was reached after Pakistan’s incumbent coalition government took unpopular decisions like augmentation of the Power and Petroleum Products’ prices.

After the development it is expected that an amount of US $ 1.2 Billion will be disbursed in the month of August, 2022. Pakistan’s present Forex reserves can only cover two months of imports and the IMF’s disbursal will be a great support to Pakistan’s economy. Interestingly, Federal Minister for Revenue and Finance Miftah Ismail, while talking to journalists at a Presser held on 20th of June, 2022 stated that he was confident that Pakistan would revive stalled IMF program within a couple of days.

On 15th June, 2022  yet another petrol bomb was dropped on the already suffering masses by Federal Minister for Finance Miftah Ismail, who is desperately attempting to satisfy IMF in order to persuade it to release the next tranche.  After the augmentation (that came into effect from midnight) the price of Petrol is Rs. 233.89/liter; diesel will be available for Rs.236/litre.

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